With Congress, those hardworking devils, gone fishin' until
September 9, Wall Street left
Charles in Charge
. Not a good idea, for
Mr. Evans' taper talk
swiftly saw stocks suffer their worst drop since June. (At least
Charles & Colvard
), which jumped 15.73% amid the downdraft, was one Chuck to buck
the trend.) Another strong performer was watchmaker
). Only twenty-four hours after slumping 6.04% to post the
(^GSPC) poorest performance, it easily topped the index in surging
some 17.81%. As shares have since been downgraded this morning, I
would say what a difference
Al Roker - who could clearly use one of the
company's alarm clocks
- would never forgive me.
) rose 4.27% thanks to, if not All, then certainly
One of The President's Men
) tumbled 2.09% to
lose its shirt
, although that may not be a bad thing in the company's case. Math
is hard? Try telling that to
International Business Machines
) CEO Virginia Rometty, who graduated with high honors degrees in
computer science and electrical engineering, thank you very much.
did drop a
There isn't any top-tier economic data due today, but quarterly
earnings announcements are expected out of
Green Mountain Coffee Roasters
(ANV): RBC Capital cuts the small cap commodity company to
Underperform from Sector Perform.
(AXAHY): Shares are cut to Market Perform from Outperform at Keefe
since last week's earnings announcement for the Aspirin outfit,
today taken to Hold from Buy at Berenberg.
(CHRW): The transportation name is now Underperform from Market
Perform with Wells Fargo.
(CVS): Citing valuation concerns and issues involving the company's
Medicare Part D business, Cantor Fitzgerald cuts the stock to Hold
from Buy. Its price objective, previously $65, is trimmed to $62.
(END): END gets taken to Hold from Buy at Canaccord Genuity.
): Never a dull moment for the watchmaker, which was the worst
(^GSPC) stock on Monday and the best yesterday. Today it is taken
to Neutral from Buy at Citigroup.
(FBN): Shares are slashed to Sell from Hold at Stifel, which says
bankruptcy is a possibility.
(GG): The equity is now Neutral from Buy at Davenport.
(KCAP): Shares are moved to Market Perform from Outperform by Keefe
(MRO): Bank of America-Merrill Lynch lowers the energy firm to
Neutral from Buy.
(NILSY): The Russian commodity company is now Underweight from
Neutral at JPMorgan.
(PCRX): Shares, up over 4% in yesterday's down market, are now
Neutral from Overweight at Piper Jaffray.
(RDA): The European tech stock is taken to Buy from Strong Buy at
Needham, which also reduces its target price by $1 to $13. A soft
second half of the year outlook is a worry.
(RM): RM is reduced to Hold from Buy at Jefferies.
(RTIX): Canaccord Genuity gives the company a Hold-from-Buy ratings
(RHP): Shares are now Neutral from Overweight at JPMorgan.
(SLMT): Canaccord Genuity gives the small cap company a
(BID): The auction house is downgraded to Hold from Buy at Craig
(Z): RBC Capital cuts its rating on the real estate information
outfit to Sector Perform from Outperform. Shares are imploding
about 8% as I write, after the company announced a Q2 loss.
Stock Upgrades: Yum! Brands, Inc. Is Good Enough to
New Stock Coverage: Bet the Bank on Baxter